Naver kept its previous stance that discussions are underway on whether to pursue a comprehensive stock exchange between its subsidiary Naver Financial and Dunamu, which operates the virtual asset exchange "Upbit."
On Oct. 24 in the afternoon, Naver said in a filing, "Our subsidiary Naver Financial is discussing various cooperation with Dunamu, including a stock exchange, in addition to stablecoin and unlisted stock transaction, but nothing has been decided regarding additional areas of cooperation or methods."
A comprehensive stock exchange is a method in which two different corporations swap shares to unify their governance structure. One company becomes the surviving holding company, and the other is converted into a 100% subsidiary.
At the end of last month, news emerged that a plan was under discussion to swap new shares issued by Naver Financial with the equity held by existing Dunamu shareholders.
At that time as well, Naver said in a filing that it was discussing various cooperation with Dunamu, including a stock exchange, but that nothing had been finalized.
Dunamu also said, "We are discussing various cooperation in addition to Naver Pay, stablecoin, and unlisted stock transaction, but nothing has been decided regarding additional areas of cooperation or methods."